AUDUSD Movement
For the 24 hours to 23:00 GMT on Friday, the AUD weakened 0.33% against the USD to close at 1.0510.
LME Copper prices rose 1.6% or $124.5/MT to $8052/MT. Aluminium prices rose 0.9% or $18.0/MT to $2021.3/MT.
In the Asian session, at GMT0400, the pair is trading at 1.0516, with the AUD trading marginally higher from Friday’s close.
The pair is expected to find support at 1.0491, and a fall through could take it to the next support level of 1.0465. The pair is expected to find its first resistance at 1.0537, and a rise through could take it to the next resistance level of 1.0557.
The currency pair is trading above its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
